IP/10/1271
Brussels, 30 September 2010
Mergers: Commission approves proposed acquisition of Spanish subsidiary of car components maker Plastal AB by Peugeot's Faurecia
The European Commission has cleared under the EU Merger Regulation the proposed acquisition of the Spanish subsidiary of the car components maker Plastal Holding AB of Sweden by Faurecia SA, a car component producer and subsidiary of the French car manufacturer Peugeot. After examining the operation, the Commission concluded that the transaction would not significantly impede effective competition in the European Economic Area (EEA) or any substantial part of it.
Faurecia is a global supplier of automotive equipment, in particular vehicle seating, interiors, front ends and exhaust systems. Plastal is active in the engineering, production and supply of plastic components for the automotive industry, in particular bumpers and front-end carriers.
The parties' activities overlap in the markets for the manufacture and supply of bumpers, front end carriers and instrument panels for light vehicles. However, the Commission's investigation found that the proposed merger would not give rise to any significant competition concerns as the parties are not each other's closest competitors and will continue to face several credible competitors in all of these markets.
Given that Faurecia is controlled by PSA Peugeot Citroën SA, the Commission also examined the vertical link between a supplier of car components and a manufacturer of passenger cars. The Commission concluded that the merged entity would not have the possibility to shut out the markets, since a significant number of alternative car component suppliers remain upstream and a large alternative customer base downstream.
The Commission had already approved the acquisition of Plastal Germany by Faurecia on 24 March 2010 (see IP/10/358). As Faurecia intends to acquire Plastal Spain from the same seller within less than two years from the first transaction, the two operations are treated under the EU Merger Regulation as one concentration arising on the date of the last transaction.
The concentration was notified to the Commission on 26 August 2010. More information on the case will be available at:
http://ec.europa.eu/competition/elojade/isef/case_details.cfm?proc_code=2_M_5977
